NSSA invests in Zimbabwe’s development and social safety net
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The National Social Security Authority (NSSA) of Zimbabwe is directing funds towards projects that support national development goals and improve social protection for workers and their families.
NSSA currently manages two schemes, pensions and accident compensation, funded by employer and employee contributions capped at US$700 monthly. The Authority increased monthly pension payments to between US$70 and US$350, exceeding the International Labour Organisation’s poverty level of US$60.
NSSA also works to improve workplace safety, reducing the Lost Time Injury Frequency Rate from 6.8 to 2.2 over four years and aiming for under 1 by 2030. Beyond direct payments, NSSA invests in housing projects across Zimbabwe, delivering over 2,000 residential stands and housing units in cities like Plumtree, Bulawayo, and Harare.
The Authority’s balance sheet has grown significantly, increasing from US$350 million in 2022 to over US$1.2 billion, with investment income jumping from US$4 million to US$40 million in the same period. NSSA is also investing in renewable energy, infrastructure, and agriculture, including a US$8 million investment in a solar power plant and US$27 million in winter wheat and summer cropping programs, to further support Zimbabwe’s economic growth and food security.
